Word: rateness
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Dates: during 1960-1969
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...third straight month (see chart). Housing starts fell 12% last month to the lowest level in two years, and new orders for durable goods, which had risen sharply in September, settled back again. The price picture is less clear. The consumer price index rose at an annual rate of 4.8% in October, compared with a 6% rate in September, but a one-month variation of that size is not enough to signal any turn. Economists find it at best a mildly encouraging sign that the rate of price increases is leveling off. Four prominent Manhattan clothing manufacturers joined last week...
...confidential memo that prices could rise as much as 6% next year. His reasoning: labor productivity is likely to drop while wages keep rising, intensifying cost pressure on prices. J. Dewey Daane, a member of the Federal Reserve Board, expressed doubt that price increases will slow to a "tolerable" rate even by the end of 1970, despite the Board's tight squeeze on credit...
Fictional Rate. That pressure last week brought a further rise in interest rates from their already towering levels. High-grade utility bonds were offered in Wall Street at a record 8.9% yield. William F. Butler, vice-president of the Chase Manhattan Bank, says that banks are refraining from raising their 81% prime rate on business loans only because they fear "the wrath of Congress." The prime rate is an increasingly unreliable guide to borrowing costs anyway. Growing numbers of borrowers pay as much as 10.6% interest on loans officially made at the prime rate, because banks are strictly enforcing...
...beginning to face an economic credibility problem, though not of the sort that it has been talking about. Nixon men have said that they are having trouble convincing business, labor and consumers that the Government will stick to its prescribed anti-inflation policy long enough to cut the rate of price increases substantially...
...Wisconsin's Institute for Research on Poverty. They contend that the labor shortages produced by an inflationary boom enable many of the poor to land jobs that otherwise would remain beyond their reach. Using complex mathematical formulas, they support earlier calculations that a reduction in the unemployment rate from 5.4% to 3.5%-experienced by the U.S. between April 1964 and November 1966-creates 1,042,000 full-time jobs for poor people who otherwise would be working only part-time or not at all. As for the non-working poor, Hollister and Palmer found that welfare benefits have generally...